1 June 2026

Litigation Capital Management Limited

("LCM" or the "Company")

Covenant Waiver Extension, Case Updates and Strategic Review

Litigation Capital Management Limited ("LCM"), an alternative asset manager specialising in dispute financing solutions internationally, announces that the debt covenant waiver from Northleaf that was due to expire on 30 May 2026 has been extended to 30 June 2026.  During the extended waiver period the interest on the loan remains increased by 2.00% per annum consistent with the initial waiver. There is no additional one-time waiver fee in relation to this extension.  

LCM has recently received negative developments in relation to two of its case investments. These two matters have a combined LCM invested capital of approximately A$9 million. Management is reviewing these matters and expects to recognise material write-downs in relation to these investments in its next set of financial statements.

The Strategic Review that was first announced on 15 September 2025 continues to progress and the waiver extension is reflective of Northleaf's ongoing support while LCM works towards a long-term resolution of its capital position. Management will provide an update on the progress of the Strategic Review in due course.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

Enquiries

www.lcmfinance.com